U.P. Lenders Alliance hosts summit
MARQUETTE -- On Thursday, a group of U.P. financial institutions met to improve a process they say is crucial to economic recovery in the U.P.: small business lending.
The U.P. is one of many targeted areas for this kind of lending for economic recovery.
The Upper Peninsula Lender's Alliance hosted the summit, one of the group's quarterly meetings. The group says small business lending affects everyone in the U.P., not just business owners and lenders.
"Obviously it benefits the general community because when lenders lend money to small businesses, it creates jobs," says Paul Arsenault, President of Concepts Consulting. "It creates infrastructure; it helps the community."
"Honestly, I think the most important thing is to remember how important small businesses and their health is to the overall economic recovery," says Jane Butler, Ex. Vice President NAGGL. "We're not out of the woods yet, and having lenders who are willing to help small businesses start and grow during these times is really important."
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